that has upheld its

"The new CEO of Red Lobster is not playing, y’all," said TikTok user "Oliver” back in June. The video went viral as a number of users began to also share their affection for the endless shrimp and lobster fest.

This year, Red Lobster has experienced a kind of unexpected cultural renaissance, spurred by TikTok’s love of seafood boils and an older generation’s undying love of Cheddar Bay Biscuits.

In May of 2024, the nation’s most popular seafood chain filed for Chapter 11 Bankruptcy after years of challenges exacerbated, in some part, by the pandemic. Across the country, dozens of restaurants were closing amid a climate of increased casual dining competition and management hurdles.

With the filing came restructuring and the appointment of a new CEO: Damola Adamolekun.

To say it plainly, Adamolekun is young, gifted, and Black. While he’s not technically the company’s first Black CEO— that title belongs to Clarence Otis, the CEO of Darden Restaurants from 2004–2014; the company sold Red Lobster in 2014 — he became the company’s youngest. In a climate marked by corporate backpeddling on diversity, equity, and inclusion efforts, Adamolekun’s appointment carries a symbolic weight. Especially for a company that has upheld its culture since its doors opened in 1968.

“Red Lobster was founded at a time when there was a lot of segregation,” Adamolekun says to BET. “But from day one, everyone, including Black Americans, was welcome, and we welcomed all team members during a time when that wasn't the case for [other businesses]. I'm happy and proud to continue to lead that legacy.”

The Route To Success

Born in Nigeria and raised in Zimbabwe and the Netherlands, Adamolekun and his family immigrated to the U.S., moving to Springfield, Illinois, when he was nine. 

But it was after winning $10,000 from a speech contest at age 16 that he learned his passion for business, and investing as a form of micro ownership emerged. “That was the first big chunk of money I had made outside of my waiting on tables, and I wanted to invest that money because even back then, I recognized that that was the best way to grow it,” he says.

Before helming Red Lobster, Adamolekun already had a track record for turning around another popular chain in distress: P.F. Chang’s, which he served as CEO for at the height of the pandemic.

While business star is perfectly content with his CEO role, he’s passionate about wealth creation through Black-owned businesses.

“Ownership is the primary method of wealth creation,” he says. “There are a lot of routes towards ownership. A lot of people start their own companies. Some people invest in companies, and some people take roles that enable them to acquire stakes in companies based on their compensation packages. It's good to see more people stepping into ownership roles or becoming entrepreneurs themselves.”

Beyond The Optics

In a world that is quick to embrace Black culture and dollars, there’s a glaring lack of visibility when it comes to leadership.

For years now, the Fortune 500 list has been published and, like clockwork, a familiar question emerges for many of us: Where are the Black folks? Black representation matters at every tier of the corporate ladder.

Among the United States’ top 500 companies, only eight businesses are led by Black CEOs. Eight. Meaning: Black CEOs represent only 1.6% of the largest and most successful corporations in the U.S.

Adamolekun is aware of the optics. When asked what advice he had for young Black professionals during a time of low leadership visibility and anti-DEI sentiment, he took a pause and sat with the question before answering.

“My advice for people is to focus. You'll give yourself a lot of anxiety, worrying about things you can't control,” he says.

He continued, “I tell people to focus on just being excellent at whatever it is that they do. When we moved to America, my dad told us, ‘You don't have to do medicine.’ My dad was a doctor. But he said, ‘Whatever you do, try to be the best at it, and you'll do well in this country.’ I still think that's very true, right? There’s no substitute.”

Though Adamolekun stresses that what it takes to be “the best” is another story.

Whether working for Goldman Sachs, getting into Brown University and Harvard, or joining a good hedge fund, discipline and good old-fashioned hard work were key. Though he circles around to the same point again, “That should be your focus. Not worrying about the things that are out of your control.”